Biocon today reported a 12% decline consolidated net profit to Rs 174 crore for the year ended March 31, 2006 from Rs 198 crore in FY05.According to a release posted on the company website, total revenue increased 9% to Rs 793 crore from Rs 728 crore in FY05.The board has announced a dividend of 50% i.e Rs 2.50 per share, the release added.Kiran Mazumdar-Shaw, chairman & managing director of Biocon, said: "I am pleased that we have sustained a healthy 30% operating margin for the financial year 2005-06 despite a fiercely competitive environment. This enables us to continue to invest in our discovery led research programs. The recent acquisition of the NOBEX portfolio has significantly enhanced our IP assets - both in terms of patents as well as proprietary technologies - which will play a key role in our innovation strategy for the future. The year ahead is also expected to see us entering the oncology market with our novel antibody product, BIOMAB-EGFR, for the treatment of head and neck cancers. We believe our balanced portfolio of products and services will deliver superior shareholder value over the medium-to-long term."Dr. Arun Chandavarkar has been appointed chief operating officer of Biocon w.e.f 1 April, 2006. Ajay Bhardwaj, president (marketing) is leaving Biocon shortly to pursue personal interests. Rakesh Bamzai has been appointed president (marketing) w.e.f 1 April, 2006.
